COS. PLAGUED BY RISK MANAGEMENT GAPS
New York - Almost two thirds of companies in a recent survey by Ernst & Young said that they do not plan to commit more resources to risk management over the next 12 to 24 months, despite problems uncovered by the financial crisis. Only 2 percent of the 507 senior executives polled plan to decrease risk management investments, however. The number of risk management functions has increased to keep up with compliance requirements, but their coverage and focus have become increasingly difficult to manage. Half of those surveyed reported gaps in coverage.
The report is available at www.ey.com.
PLANTE & MORAN OFFERS LIQUIDITY STRESS TEST
Southfield, Mich. - Plante & Moran has introduced a "Liquidity Stress Test" tool that manufacturing businesses can use to assess working capital needs, manage cash flow requirements more effectively, and plan for profitability in an upturn.
The Liquidity Stress Test gathers and interprets a variety of data related to an organization's revenue and costs. It then forecasts the organization's growing cash needs, enabling the company to take action to improve its cash position. The tool works within Microsoft Excel to help companies project a variety of metrics.
The complimentary test is available at www.stresstest.plantemoran.com.
GRANT THORNTON OFFERS BUSINESS BANKRUPTCY SERVICE
New York - Grant Thornton's corporate advisory and restructuring services team has launched an Integrated Case Solutions practice that will speed companies through the bankruptcy and workout process by providing information and claims management services to distressed midsized and large companies.
In addition to offering pre-filing, post-filing and post-confirmation restructuring support services, ICS's activities will include customized data management, claims negotiation and settlement, and secure data rooms for merger and acquisition and litigation activities.
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